MTRN vs PLPC: Correlation
How closely do Materion Corporation (MTRN) and Preformed Line Products Company (PLPC) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTRN and PLPC?
Over the past 3 years, MTRN and PLPC moved with a correlation of 0.47, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.47 over 3 years. Over 5 years the correlation is 0.40, and the annualized covariance of weekly returns is 903.0 %².
Among the 16 assets we track against MTRN, PLPC ranks #10 by 3-year correlation. Neither side won the trailing year by much: +123.6% against +121.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MTRN vs PLPC: side by side
| MTRN (Materion Corporation) | PLPC (Preformed Line Products Company) | |
|---|---|---|
| 1-year return | +123.6% | +121.4% |
| 5-year return | +248.3% | +514.6% |
| Volatility (ann.) | 45.7% | 42.3% |
| Beta vs S&P 500 | 1.51 | 0.76 |
| Max drawdown (3Y) | -47.8% | -38.5% |
| Market cap | $5.1B | $2.1B |
| P/E (trailing) | 54.9 | 46.4 |
| Dividend yield | 0.24% | 0.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTRN | PLPC |
|---|---|---|
| 2022 | -4.3% | +29.9% |
| 2023 | +49.4% | +61.8% |
| 2024 | -23.7% | -3.9% |
| 2025 | +26.4% | +62.6% |
| 2026 | +98.4% | +104.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTRN and PLPC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MTRN and PLPC?
As of 2026-08-27, the correlation of weekly returns between MTRN and PLPC is 0.47 over 3 years, 0.63 over 1 year and 0.40 over 5 years.
Is PLPC a good diversifier for MTRN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MTRN correlations · PLPC correlations
